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Payday loan use quadruples since 2006, says Consumer Focus

The number of people taking out controversial - and expensive - payday loans has quadrupled since 2006.

Borrowers taking out payday loans can find themselves in a `debt trap`, according to Consumer Focus.

Average credit card rate 'hits 17.32%'

Despite increasing competition in the credit card market, the average rate of interest on purchases rose to 17.

Average interest rates for credit cards topped 17.3 per cent last month.

Overseas card use 'to cost £62m'

Holidaymakers are set to shell out £62 million in charges for using their credit cards overseas during the remainder of the year, the Post Office has said.

Many Britons are unaware of the true cost of using their credit card abroad.

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Britain's shopaholics rack up £13bn in debt

A "passion for fashion" could cost many Britons dear as the country's shopaholics have racked up £13 billion in unsecured debt funding their spending sprees.

Poll: 82% of parents feeling strain of university costs

The recession has cranked up the pressure on parents and students when it comes to meeting university costs, according to a new poll.

Payday loan use quadruples since 2006, says Consumer Focus

The number of people taking out controversial - and expensive - payday loans has quadrupled since 2006.

Average credit card rate 'hits 17.32%'

Despite increasing competition in the credit card market, the average rate of interest on purchases rose to 17.

Overseas card use 'to cost £62m'

Holidaymakers are set to shell out £62 million in charges for using their credit cards overseas during the remainder of the year, the Post Office has said.

Household debt edges lower

The average debt of UK households including mortgage repayments edged lower in June, according to new research.

Banks see consumer lending shrink in June

Unsecured lending from the UK's high street banks was subdued last month as repayments outweighed new borrowing, according to the latest industry figures.

Lending to consumers rose in Q1

Consumer credit lending by banks and building societies topped £34.

Government to review consumer credit market

The government is to review the UK's consumer credit market, it has been announced.

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Loans & Credit Features

How to improve your credit rating

A good credit rating is vital if you want to be approved for certain financial products such as mobile phone contracts, car finance and mortgages. Myfinances shows you how to get one.

Building your credit rating can also help boost your finances

Payday Loans - the pros, cons and alternatives

Payday loans - the once seedy side of the credit market - have undergone an image transformation in the last few weeks.

Credit conditions for those on lower incomes are set to improve at last

Reward Credit Cards

As reward credit cards make a comeback, Kate Saines takes a look at what, if anything, they really offer.

Are reward credit cards really worth the effort?

Partners

Debt Options

Debt Options help thousands of people with debt management programmes or IVAs and can help you find the right solution to your debt problems.

What are the signs of a debt crisis spiralling out of control?

Should you constantly be in the red and find you are not making any progress when it comes to making repayments, it may be a sign that you have serious debt problems and need help getting your finances under control.

Bad Credit Credit Cards

Vanquis Bank specialise in trying to help people with poor credit histories, who are trying to re-establish their credit rating. Apply for a bad credit credit card online

Product News

Amex offers Top Treats to card holders

American Express and online restaurant booking service toptable have launched a new partnership that will offer the company's card holders extra rewards and special deals.

AA credit card changes 'will help borrowers'

Changes to AA credit cards, aimed at helping customers keep on top of their debt, have come into effect.

More product news ...

Guides

Payday loans

Payday loans offer a way of borrowing over the short term, to meet pressing bills that cannot wait.

Demystifying Secured Loans

Julia Dallimore of secured loan provider Picture Financial, writing for MyFinances, explains the ins and outs of secured loans - their risks, benefits, and suitability.

More guides ...

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Loans Advice

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Credit Cards

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